Apple managed to beat PetroChina Co. and became the second largest company in the world market in terms of market capitalization. Just one more step, Apple became the largest company by market capitalization in the world.

On Thursday (23/09/2010), Apple’s shares had surged to 292.76 dollars on the Nasdaq stock market. Conditions that promote the value of Apple’s market capitalization to 267.5 billion U.S. dollars and become the world’s second largest company after Exxon Mobil Corp..

Nevertheless, at the market close at 16.00 New York time, Apple is back down to the position of 288.92 U.S. dollars so that helped push its market capitalization to 263.9 billion U.S. dollars. The number is smaller Darin PetroChina Co. who has a capitalization of 265.5 billion U.S. dollars.

Indeed, since launching the iPhone in January 2007, Apple’s stock price tripled. The device is currently contribute 30 percent of company revenue. Earlier this year, Apple also introduced the iPad tablet computer sales surpassed the iPod.

“There’s no reason Apple does not grow any larger,” said Jane Snorek, an analyst at First American Funds. He added, this time Apple still mengempit small portion of the market mobile phones and computers.

Meanwhile, Gene Munster, an analyst with Piper Jaffray Cos. in Minneapolis, predicted that Apple will sell 21 million iPad next year. The number is up from its original forecast of 14.5 million units. Munster also said that Apple stock will touch 390 dollars per share. While a number of analysts surveyed by Bloomberg predict, the average price of shares will reach 342.81 dollars in the next 12 months

Advertisement